News

DRPA Expected To Decide On Toll Hike Wednesday

Related Tags:

CAMDEN, N.J. (AP) — For the Delaware River Port Authority, it’s a choice between taking it easy on the commuters who use the agency’s bridges and trains in the Philadelphia area or complying with Wall Street’s wishes.

The agency was expected to decide Wednesday whether to delay fare and toll increases scheduled for 2011.

The agency’s financial advisers warn that delaying hikes could hurt its credit worthiness. Consequences could range from making it harder for the DRPA to borrow money to being forced to put up more than $200 million in collateral.

Ten percent fare increases for the PATCO train line are scheduled for Jan. 1. Tolls on the Betsy Ross, Ben Franklin, Walt Whitman and Commodore Barry bridges are to rise to $5 from $4 on July 1.

(Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)